Delphi shares rally after Morgan Stanley upgrade to buy
Shares of Delphi Technologies Plc. rose more than 6% on Monday after analysts at Morgan Stanley upgraded the stock to their equivalent of buy, from neutral. “Following the recent sell-off, we believe that (Delphi) is an attractive investment relative to other suppliers,” the analysts said. Concerns about trade disputes may be a “potential risk” but the low share prices have “more than sufficiently” discounted that risk, they said in a note. Morgan Stanley kept its price target on Delphi at $55, which would represent a 20% upside over Monday prices. Delphi shares have lost 13% this year, versus gains of 4% for the S&P 500 index and a break-even for the Dow Jones Industrial Average.